Treasury's Bessent hires Trump's controversial former Fed board pick, Judy Shelton, as adviser

Judy Shelton, whose controversial economic ideas led the Senate to block her nomination to the Federal Reserve, has been appointed a counselor to Treasury Secretary Scott Bessent. The Treasury said Shelton will advise Bessent on currency policy, "with a particular focus on evaluating financial conditions in China." Shelton is not known as a China expert. She authored "Money Meltdown", about the need for a unified international monetary regime, in 1988, followed by "The Coming Soviet Crash" the next year. Prior to joining Treasury, Shelton served as a senior fellow at the Independent Institute, a free-market think tank, and, before that, at the Hoover Institution at Stanford University. She holds a Ph.D.